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2016-11-29 08:49:24

TIF

Tiffany

$78.14

0.08 (0.10%)

08:49

11/29/16

11/29

08:49

11/29/16

08:49

Tiffany says 'premature' to say there has been 'meaningful' turn in business

Says spending by foreign tourist customers rose in Q3 vs. decline in 1H. Says lower spending attributed by Chinese tourists "more than offset" by spending by tourists from Japan and elsewhere. Says sales in U.S. pressured by lower local spending, election. Says will maintain "cautious" outlook, cites recent election-related activity, "uncertainty" over upcoming Hong Kong election. Says sales increased in U.K. post-Brexit. Says "premature" to say there has been a "meaningful" turn in the business. Sees full year square footage up approximately 3%. Says plans to report holiday sales results on January 17. Comments taken from the Q3 earnings conference call. Tiffany & Co is up 5.6% in pre-market trading.

29

Nov

TIFTiffany

$78.14

0.08 (0.10%)

11/11/16

11/11/16UPGRADE

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Equal Weight from Underweight at Barclays with analyst Kannan Venkateshwar saying ESPN is "de-risked" going into 2017 after management quantified the impact of the new NBA contract. 2. Aetna (AET) and Humana (HUM) were upgraded to Outperform from Neutral at Credit Suisse, while the firm upgraded WellCare (WCG) to Neutral from Underperform. 3. Anadarko (APC) and EOG Resources (EOG) were upgraded to Buy from Neutral at Guggenheim. 4. Tiffany (TIF) upgraded to Outperform from Market Perform at Cowen with analyst Oliver Chen saying he believes the luxury market is coming back and Tiffany is well positioned and a trusted brand. 5. Vornado (VNO) upgraded to Buy from Neutral at BofA/Merrill with analyst James Feldman saying he believes the decision to spin DC and partner with JBG will allow management to focus on the New York City platform and notes the Penn Plaza corridor is rapidly improving. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

11/14/16

JEFF

11/14/16NO CHANGETarget $100JEFFBuy

Tiffany price target raised to $100 from $85 at Jefferies

Jefferies analyst Randal Konik raised his price target for Tiffany to $100 saying the company has a strong positioning in a growing market. Fashion jewelry fundamentals are improving while tourism headwinds are abating, Konik tells investors in a research note. The analyst reiterates a Buy rating on the shares.

After spending three days monitoring Tiffany's 5th Avenue flagship store in Manhattan to gauge traffic patterns and any Trump Tower protest related issues, Jefferies analyst Randal Konik concluded the store's traffic "was robust, not weak." Street police activity was high but didn't inhibit entrance to the store, Konik tells investors in a research note titled "5th Ave Flagship Store Checks Over Three Days Show 'Huuuuge' Strength." He believes investors are concerned that protests surrounding Trump Tower and high security will disrupt Tiffany's 5th Avenue store business. Konik keeps a Buy rating on Tiffany with a $100 price target.

11/23/16

OPCO

11/23/16NO CHANGETarget $87OPCOOutperform

Tiffany price target raised to $87 from $80 at Oppenheimer

Oppenheimer analyst Brian Nagel raised his price target for Tiffany to $87 from $80 ahead of results. While the analyst is concerned that a still challenged sales backdrop and higher expenses could weigh on results, longer term he is increasingly optimistic that internal merchandising and marketing efforts have the potential to fuel improved results, particularly as macro pressures potentially subside. Nagel reiterates an Outperform rating on the shares.